MagnaGlobal, ZenithOptimedia revise ad outlooks

London and New York—Two major media forecasters, MagnaGlobal and ZenithOptimedia, downgraded their global ad estimates for this year.
MagnaGlobal, New York, said global ad revenue will reach $480.0 billion this year, up 4.8% over last year. That was down slightly from a December forecast of 5.0% growth.
MagnaGlobal attributed the downgrade to Western Europe's “shaky economy.”
In North America, ad spending is expected to reach $165.0 billion this year, up 3.9% over last year and a revision from 3.7% growth MagnaGlobal had predicted in December.
ZenithOptimedia, London, said global ad spending will reach $502.0 billion, up 4.3% over last year. That forecast is down from a projected increase of 4.8% in March.
ZenithOptimedia said global ad spending slowed in April and May as advertisers became cautious about the world economy.
In North America, ad spending will reach $171.2 billion this year, up 3.6%, unchanged from the March forecast.